Our firm recently partnered with a global specialty (re) insurer which focuses on underwriting complex risks and developing a new way to combine data, intelligent automation, and human expertise to make smart decisions.
The Problem
They wanted to address their inefficiencies in processing quotes due to disordered data sets. Data entry was a manual process of reading emails, which took hours and resulted in non-standardized entries. Our client needed a solution that could streamline their workflow and enable a faster turnaround time.
The Approach
To achieve this, we built a centralized interface on Unqork that standardized entries and automated data entry using UiPath. We leveraged an NLP bot to parse emails for required quote information and upload data to the interface. The NLP bot trained itself on various email formats to increase the accuracy of results during submission. This approach resulted in a highly synchronized workflow with no errors.
The Results
As a result of our solution, the client’s time taken for submission effort reduced significantly from two hours to only 10 minutes. This improvement allowed for quicker turnaround times, resulting in increased productivity and profitability. The streamlined workflow enabled the client to onboard 30+ different products quickly, which contributed to revenue growth. Our partnership with this global specialty insurer highlights our expertise in implementing technology solutions that significantly improve operational efficiencies. Our client was pleased with the outcome of the project and the level of expertise provided by our consulting firm.